Vietnam’s Population Hit 100 Million, But For Now….

Vietnam is one of only 15 countries in the world with a population of at least 100 million people. It is a Southeast Asian nation. The birth will be commemorated by a parade, other events, and a public relations campaign highlighting the economic benefits of a large population, according to the state-controlled Vietnam News Agency (VNA).

Vietnam’s increased population may result in a larger domestic consumer market, increased availability of skilled workers, and a profile that is more appealing to foreign investment.

100 million Vietnamese is a significant milestone. A mere 20 million people lived in the country when it declared independence from French colonial rule in 1945. Urbanization and industrialization, improved living standards, and economic expansion have largely accompanied the gradual increase in the population.

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Overpopulation, on the other hand, can also come with a lot of problems. Vietnam’s populace development has outperformed its encouraging toward accomplishing its expressed point of achieving middle income status by 2035, according to authorities of Governmental issues and Public Undertakings at Denison College.

They assert that Vietnam must resist reverting to its labor-intensive and low-value-added productivity rather than decisively pivot to move up the global value chain in spite of this growth spurt.

Increasing food and energy security, protecting the environment, and providing 100 million people with high-quality education and healthcare are still significant obstacles. In addition, close to 15% of Vietnam’s population is anticipated to be over the age of 65 by 2035, putting the country on track to become an older nation.

The problem is both political and economic. The more extensive requests of a developing and maturing populace for further developed conveyance of public products and social liberties can additionally strain Vietnam’s political machinery, according to specialists.

Due to the absence of systematic political reforms to complement the country’s rapid social and economic change, Vietnam’s economy has some catching up to do. This could also stall the country’s progress.